How To Empower Female Entrepreneurs
Levelling The Playing Field For Female Entrepreneurs For Free
Being an entrepreneur is challenging enough without having to face the long-standing gender disparity when it comes to acquiring venture capital funding. Female entrepreneurs around the world arguably face a significant challenge in accessing funding as opposed to their male counterparts; a phenomenon exacerbated by the male-dominated venture capital industry. Only a paltry 2.9 per cent of all VC funding investments in 2016 went to women founders according to data from M&A private equity and venture capital database PitchBook. The findings were attributed to both differences in the number of deals and the average deal size by gender.
However, the latest partnership between law firm Rajah & Tann and social enterprise powerhouse, CRIB (Creating Responsible & Innovative Businesses) aims to help even out those odds. The venture provides female entrepreneurs with business and legal know-how and allows them to leverage on both companies’ vast network of clients in Asia and cross-border expertise to scale their businesses. The first of its kind in Singapore, workshops, legal clinics and conferences will be held to impart valuable insight about intellectual property protection and funding, among other things. "Legal advice can be very expensive. Having a platform to explore preliminary questions on how to structure a fund-raising round, so that you have a broader understanding of what your options are, is very useful", CRIB co-founder, Elaine Kim told the Straits Times.
With these free services and expertise now at their disposal, hopefully it will propel more females to enter and thrive in the highly competitive start-up scene.